Apple on 'dodging taxes'

Editor: Staff Editor

Tim Cook will probably have to listen to a whole lot when he comes to answer questions from U.S. senators during a hearing on the company’s untaxed overseas billions.

Apple - as the critical views of the committee suggests - has avoided to pay billions of dollars in taxes in the United States. How? By building and using a complex network of foreign companies. In a a press release (published in advance of today's hearing), Apple's CEO comments on the allegations.
"Apple complies fully with both the laws and spirit of the laws. And Apple pays all its required taxes, both in this country and abroad."
However, Tim Cook goes a step further and demands a reform of the tax laws. "The company believes the current system, which applies industrial era concepts to a digital economy, actually undermines US competitiveness", the statement reads.
Here is the link to the full statement from Apple.